Your personal blockchain to keep your data safe.
- The technology behind ParalletWallet, designed to keep your biometrics and personal data safe.
Personal data vault.
A dive into the technology powering ParallelWallet.
Some data like your biometrics and personal information are incredibily sensitive and would have tremendous impact when fallen into the wrong hands. In today's age of ever-increasing eKYC processes and requirments in the digital economy. There has to be a safe and trusted way to store your personal information.
ParallelChain can be configured to operate in a personal mode, where each user will "own" their own blockchain.
An implementation of the personal version of ParallelChain is ParallelWallet. The main difference between ParallelWallet and other mobile wallets is that it is completly built on top of a blockchain. That means it is not using a traditional database to store user data. Benfits of this approach include:
Once data is logged and stroed on the blockchain, it cannot be changed without altering the entire chain. Therefore, it makes a much better technology to build financial applications with.
Since ParallelWallet stores all user data in a blockchain. That means even when there is a system failure, the latest valid state of the application can always be retraced by tracing back the transactions of the blockchain.
Increased Security and Privacy
Your device and biometric keys are used to encrypt your data on your personal ParallelChain. That means only you would have access to your data, no one else.
With the app already running on a private version of ParallelChain, that means you will be able to seamlessly interact with DApps running on ParallelChain Mainnet when it launchs.